1. (a) Sections 271.004-271.007 apply to the determination of the law that governs an issue relating to a transaction involving real property other than a matter described by Subsection (b), including the validity or enforceability of an indebtedness incurred in consideration for the transfer of, or the payment of which is secured by a lien on, real property.

2. (b) Sections 271.004-271.007 do not apply to the determination of the law that governs:

   1. (1) whether a transaction transfers or creates an interest in real property for security purposes or otherwise;
   2. (2) the nature of an interest in real property that is transferred or created by a transaction;
   3. (3) the method for foreclosure of a lien on real property;
   4. (4) the nature of an interest in real property that results from foreclosure; or
   5. (5) the manner and effect of recording or failing to record evidence of a transaction that transfers or creates an interest in real property.

Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.